According to TechFlow, on November 18, CryptoQuant analyst MAC.D wrote that the Bitcoin spot ETF has accumulated 5.3% of the total existing Bitcoin, and its holdings have increased from 629,900 BTC at the beginning of the year to 1.05 million BTC, an increase of 425,000 BTC. This increase has increased ETF holdings from 3.15% of the total Bitcoin to 5.33% in 10 months. Data tracked by MAC.D also shows that there is a correlation between Bitcoin accumulation through spot Bitcoin ETFs and price movements, especially during price increases in March and November.